Bitcoin, Ethereum, Gala, and Kava Daily Price Analyses – 2 June Roundup


The performance of the global crypto market saw a considerable improvement after the market grew. The change in the value came as Bitcoin and other currencies grew in value. Though Ethereum is following Bitcoin, its gains are still low comparably and would need to work harder. The change in the value of the market soon after a short bearishness is a positive sign. Compared to the previous bearish times, it would bring a reasonable value to the market, helping it rise. It is yet to be seen how long will this bullish wave continue.  

The US Department of Justice is investigating fraud charges against a former OpenSea executive. According to the available details, the Department of Justice has started the investigation of charges of fraud and money laundering against a former product manager in OpenSea. It is considered the first-ever trial of a person in the case of the digital asset. He has been charged with misusing powers for fraud and money laundering, thus intentionally misleading the customers.

Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Ethereum, and some others.

BTC rebounds

Riot Blockchain has sold more Bitcoin while trimming the Bitcoin hash rate. Bitcoin saw a rise in the value of Bitcoin sold as the market went through a difficult period. Venture capitalist Tim Draper still believes that Bitcoin will cross $250K. He said it would even cross this estimate as he has stood by his views.

BTCUSD 2022 06 03 07 00 33
Source: TradingView

The data for Bitcoin shows that it has shed 2.41% over the last 24 hours. The comparison of data for the last seven days shows gains of 5.20%. The tendency for gains has increased with the improvement in an influx of capital.

The price value for Bitcoin has remained at $30,553.88. If we compare the market cap value for Bitcoin, it is estimated to be $582,252,246,692. The 24-hour trading volume of Bitcoin is about $28,570,144,753.

ETH gaining pace

The downward pressure on Ethereum remained intensified. Its value dropped 10% in two days though it has begun to recover recently. The whole market has continued to face downward pressure because of the lessened investments. While pressure has remained high due to sell-offs resulting from losses. Johnny Depp’s Ethereum NFT saw a considerable surge in value as he won the suit against Amber Heard.

ETHUSDT 2022 06 03 07 01 01
Source: TradingView

The positive trend for Ethereum has led to gains amounting to 0.25%. The seven-day data shows that it has added 4.10%. Thus, the increasing trend has helped retain the price value.

The price value for Bitcoin is estimated to be $1,834.40, though it hasn’t yet crossed $2K. The market cap value for this coin is about $222,815,022,920. The 24-hour trading volume of ETH is about $16,563,065,338.

GALA trying to rise

Gala has tried to make attempts to rise in value. The latest data for this coin shows that it has added 3.04% in the last 24 hours. The weekly performance of this coin shows a gain of 6.24%. It is making attempts to recover value affected by the recent changes.

GALAUSDT 2022 06 03 07 01 27
Source: TradingView

The price value for Gala is about $0.0763 and might grow further. The market cap value for Gala is estimated to be $532,364,779. The 24-hour trading volume of this coin is about $199,129,849.

KAVA still bearish

Kava has attempted to turn bullish, but it hasn’t been able to do so yet. The latest data shows that it has shed 1.84% in 24 hours. The past seven days remained relatively better as it added 6.80%. The increase in value will take place once bulls become dominant.

KAVAUSDT 2022 06 03 07 01 52
Source: TradingView

The price value for this coin is about $2.62 and might grow. The market cap value for the same coin is about $528,915,007. The 24-hour trading volume for the same coin is about $199,129,849. The circulating supply for this coin remained at 6,977,205,438 GALA.

Final Thoughts

The global crypto market has made attempts to recover value. The changes in its value show that the bullish wave has helped it. Though the previous bearish wave affected its value, the ongoing changes are encouraging. If we look at the current global market cap value, it is estimated to be $1.26T and might continue to grow. 

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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